BANKING ANALYTICS

Ranking of the Azerbaijani banking sector (ranking includes the information component of the banking sector, the main events of the world economy, the analytical review of the main indices of the banks which are being ranked)

IEA: Global oil supplies fall by 290,000 bpd in January

Global oil supplies fell by 290,000 barrels per day (bpd) to 92.1 million bpd in January, on lower non-OPEC output, according to the International Energy Agency's (IEA) report on oil market published on Feb. 13.

"Supplies were up 1.5 million bpd year-on-year (y-o-y), however, as steep growth of 1.9 million bpd in non‐OPEC output and OPEC NGLs surpassed a drop of 390,000 bpd in OPEC crude production," the report said.

IEA predicts non-OPEC supply growth at 1.7 million bpd in 2014.

OPEC oil supply increased by 85,000 bpd to 29.99 million bpd in January, with a downturn in production from Iraq offset by a partial recovery in Libyan output, according to the report.

The report said that non-OECD (Organisation for Economic Co-operation and Development) countries accounted for more than 90 percent of global growth of 1.2 million bpd for 2013 as a whole, and will make up all of the 1.3 million bpd increase forecast for 2014, as the OECD resumes its structural decline.